Advanced wound care is the treatment and management of complex or chronic wounds that are difficult to be cured using normal wound care dressings. Chronic wounds often occur in patients with the metabolic disorder such as diabetes and obesity. The wounds resulting from diabetic foot ulcers, pressure ulcers, stress ulcers, venous ulcers, injuries, etc. and are often open for a prolonged period resulting in further complications and development of comorbidities. Geriatric population is often prone to acquire chronic wounds. It is estimated that over 3% of the geriatric population in the US suffer from open and chronic wounds. The geriatric population is expected to increase over 55 million in the US and 980 million worldwide, at the end of 2020. Besides, the diabetic population is projected to increase to around 449 million at the end of 2020 and increase to around 479 million by 2025. This suggests that the wound care market is an ever-growing one requiring constant innovations to manage with the utmost care and quick recovery. Also, the number of trauma cases is anticipated provide a boost to the market growth with World Health Organization registering over 900,000 cases annually and is projected to increase, globally.

The North American and the European region are one of the fastest-growing markets in advanced wound care management. Of which the US alone will account for around US$ 2.3 billion in 2018 and is anticipated to increase at a CAGR of 4.01% during the forecast period. This can be attributed to the growing number of patients with diabetes in the US, which is more than 28 million and 16% of which suffer from diabetic foot ulcers. Also, cancer is one of the major factors that can result in chronic wounds. Since the US possesses advanced healthcare infrastructure and more awareness of the condition, the number of surgical procedures being performed to manage chronic wounds is high. The advanced wound care products which are preferred for these chronic wounds are foams, alginates, hydrogels, etc. which can fasten the wound healing process and reduce the incidences of infection. Thus, the revenue output from the North American Region, especially from the US, is expected to be one the higher end dominating the market throughout the forecast period similar to the yesteryears. Secondly, the European market consists of more geriatric population with Italy, Portugal, Germany, Sweden, and France fall in the top 10 list. Besides, the diabetic foot ulcer population in countries such as the UK, Belgium, Norway, Denmark, France, etc. is relatively on the higher end. Hence, the market contribution from the European region is expected to be significant. In the Asia Pacific region, China and India are the two countries that have a high diabetic population and increase in obesity, with India being coined as the diabetic capital of the world with more than 60 million people with diabetes followed by China with more than 35 million diabetics. Nevertheless, the chronic wound population is also increasing constantly in the APAC region. The market is expected to grow rapidly when compared to the US & the European region.

As stated, there are several wound care products such as hydrocolloids, foam, collagen, hydrogel, alginates, etc. that are being used to treat chronic wounds. Generally, the foam segment is made up of materials such as hydrophilic polyurethane and is used chiefly in traumatic and injury cases for exudate healing. This is one of the constantly evolving segments with nanocrystalline particles being embedded into the foam dressing to reduce the bacterial penetration and proliferation, being the recent one. The foam dressing segment dominated the market until 2019 and is expected to retain dominance over dominance during the forecast period. Besides, the hydrocolloid segment consisting of carboxymethylcellulose and gelatin are known to be occlusive, enable rapid healing and minimizes bacterial infection. These wound dressing materials are effectively used in the management of several acute or chronic wounds. Of which diabetic foot ulcer is one of the principal areas requiring immense care as the diabetic ulcer is prone for complications extending to amputation, extends hospital stays and increases the cost of treatment. Thus, this segment contributes more to market growth. Also, Negative Pressure Wound Therapy accompanying the wound care dressing is often used to quicken the healing process. With Hospitals being the mainstays for treatment of all kind of ulcers, injuries and traumatic cases, the segment contribute more to the market growth over the clinics and home care settings. This is attributed to the increasing number of diabetic foot ulcers and pressure ulcers.

Optima Insights is an innovative research and insights-driven enterprise committed to offering actionable intelligence to the global life science and healthcare market. We believe that meaningful insights and improved strategic content hold the key to improved ROI for our clients. We strike an innovative engagement model with our clients to Co-Create Intelligence that would address very specific issues facing them within their functional areas. We continuously support clients through the entire journey map to enable them to make better business decisions towards attaining market leadership.